Trade Expo Explained for Beginners
Trade expo goes by many names which usually only differ by region. In Europe, it is called a trade show while it is called a trade fair in most parts of the United States. It is also called a trade exposition which is the full version of the word. Many just call it simply ‘expo’.
What Is the Purpose of an Expo?
By definition of the word ‘trade exposition’, this event is all about exposing your trade to interested parties. Investing in public marketing is one way to get your product and brand to reach its target audience.
Meanwhile, joining an expo allows your goods and services to be appraised by enthusiasts of a similar field. This is how you meet with experts in the industry, see potential investors, make connections with trade partners, or identify your rivals.
Types of Expo
There are two types of trade expos and those are the following:
Consumer expo or public expo is the kind of event that is open for people outside of the industry. This kind of setting always allows the exhibitors to sell their products in retail to random people.
While they may not be experts, some members of the public may know a thing or two about your trade. If they give their opinion, you have to respect it. A consumer expo is like a market and along with that is the common practice of haggling. Be sure to be ready for that kind of engagement.
A trade-only expo is an event where nobody who is not registered or recognized as a member of the industry is allowed to enter the event’s floor. Every person visiting your booth is an expert in the field.
The kinds of people invited to these events are company representatives and investors. Members of the press are also invited to write about most of the exhibits and hopefully promote them. Other times, they’re just there to become the window for the public looking in.
Most trade-only expos are about innovations in the industry such as new medical equipment or techniques. Others include project proposals looking for investors to start their operations. Other times, traders just want to get an orientation on the state of the industry and maybe buy wholesale from each other.
Other Things that Happen in an Expo
Aside from trading or making connections, expos are also great mediums to spread awareness about certain topics that must be addressed by industry leaders. Some of these include a change in the way marketing should be held because of the popularity of a certain medium.
Other times, it’s an opportunity to stop a certain practice that may be causing more harm than good to sales. The West Bengal Trade Promotion Organisation often addressed such topics for both global and local scales.